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Volume 07. l Issue 12
December 2017
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Solar Quarter • December 2017 3
INDIA’S MOST READ SOLAR ENERGY MAGAZINE
Index
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EXCLUSIVE INTERVIEWS
Mr. Girishkumar Kadam Vice President and Sector Head, Corporate Ratings, ICRA Limited
Mr. Anil Rawal Vice President and Head, Business Acquisition, Sterlite Power
10
14
NEWS AT GLANCE � Indian News ........................................................06
PUBLISHING: VIJAY KUMAR
EDITOR: VARUN GULATI
� International News............................................08
Mr. Vikalp Mundra Joint MD, Ujaas
16
INDUSTRY INSIGHTS � Where are Indian solar tariffs headed?......20 � GST impact on solar power generation
Mr. Ravi Khanna CEO, Aditya Birla
projects – not so sunny!.............................. 22
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EDITORIAL: NEHA BARANGALI SANJANA KAMBLE NIKITA SALKAR publishing@firstviewgroup.com
17 PRODUCT FEATURE
INDUSTRY PERSPECTIVE
� Meco .....................................................................23
BUSINESS DEVELOPMENT: VIPUL GULATI VIKAS KHADTALE MEGHNA SHARMA bd@firstviewgroup.com
� LAPP Group .........................................................24 � Vikram Solar.........................................................25
18 Mr. Sujoy Ghosh Country Head, First Solar, India
OFFICE:
COMPANY FEATURE
FirstView Media Ventures Pvt. Ltd.
� Ganges...................................................................26 � RelyonSolar...........................................................27 � Goldi Green..........................................................28
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Mr. George John Head - Mytrah Global Services, Mytrah Energy
19 Mr. Devin Narang Country Head-India, Sindicatum
WHERE ARE INDIAN SOLAR TARIFFS HEADED? ...Pg-20 w w w . s o l a r q u a r t e r . c o m
Solar Quarter • December 2017 4
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Solar Quarter • December 2017 5
Indian News
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ENEW POWER LOOKS TO BUY WAAREE ENERGIES’S SOLAR POWER PROJECTS ReNew Power Ventures Pvt. Ltd is exploring the acquisition of Waaree Energies Ltd’s solar power projects as it seeks to consolidate its position as India’s largest clean energy firm before a planned initial public offering (IPO), two people aware of the development said. “ReNew Power has been in talks with Waaree Energies for its solar power generation assets,” said one of the two people cited above, requesting anonymity. The second person confirmed the development. Goldman Sachs-backed ReNew Power has around 3.5 gigawatts (GW) of operational and under-construction capacity from its own wind and solar projects. It has set a target of over 11GW of wind and solar power capacity over the next five years.
G
OVERNMENT UNLIKELY TO SCRAP CUSTOMS DUTY ON IMPORT OF SOLAR PANELS The government appears to have turned down a plea by the Ministry of New and Renewable Energy (MNRE) to scrap import duty on solar panels imposed last year, according to the minutes of a meeting held earlier this month. The renewable energy ministry had backed the demand by solar developers that such equipment should continue to be exempted from duty. This would mean developers getting equipment from overseas having to pay levies that add up to about 10%, possibly reversing the decline in solar tariffs in successive auctions in the past three years unless power producers choose to absorb the extra cost, experts said. However, developers that quoted tariffs based on a zero-duty calculation in past auctions may get some relief.
tariff at Rs 2.47 per unit in the first auction of 500 MW Bhadla solar park phase III, and Rs 2.48 per unit in the second auction of 250 MW Bhadla solar park phase IV. Bhadla gets the best solar radiation in the country and historically has achieved the lowest prices at solar auctions.
A
‘Dharnai - Saur Gram’ - the small hamlet in Bihar’s Jehanabad district is indeed a study in progress. For nearly 70 years after independence, the village had remained powerless – figuratively as well as literally. It catapulted into fame about two years ago as India’s first fully solarpowered village. The thatched roofs and meandering roads of the village have been dotted with solar panels since. Whether Dharnai will continue to shine bright or descend into darkness once again depends to a large extent on the government’s decision regarding implementation of Anti Dumping Duty (ADD) on imported solar panels. The decision is also likely to have wide ramifications on the 5,000-odd villages and 240 million people in India that are still bereft of access to electricity. Today, the demand for energy security is more urgent than
Lapp Group acquires SKS Automaatio and SKS Connecto in Finland and Poland. “The acquisition of the SKS companies
OLAR ENERGY TO POWER KALKASHIMLA RAILWAY STATIONS BY MARCH 2018
S
strengthens Lapp’s leading role in cable harnessing and our
In order to promote solar energy in India, the Kalka-Shimla
SKS Connecto Oy is located inHyvinkää, Finland, and
rail track that comprises of 18 stations will be completely
leading in cables and cable harnesses for machine and
solar powered by March 2018.
circuit board constructions as well as in distributor rails.
The 18 railway stations that include Kalka, Taksal,
SKS ConnectoPolska Sp. z o.o. in Gdansk, Poland, is another
Ghumman, Koti, Sanwara, Dharampur, Kumarhatti, Barog,
location of the company and specializes in cable harnesses
Solan, Salogra, Kandaghat, Kanoh, Kathleeghat, Shoghi,
and wire set manufacturing and electrical assemblies.
Taradevi, Jutogh, Summer Hill, and Shimla will be equipped solar panels. The Ambala division of the Indian Railways has outsourced the project to a privately owned Bikaner based firm.
M
AHARASHTRA PLANS TO GENERATE 25-K MW THROUGH SOLAR ENERGY: STATE ENERGY MINISTER Maharashtra Energy Minister Chandrashekhar Bawankule informed the state Legislative Council on Friday that the
market position in North-Eastern Europe,” said Andreas Lapp, Chairman of the Board of Lapp Holding.
SKS AutomaatioOy is leading in automation and electrical components and is located in Vantaa, Finland. Along with its broad range of products the company offers tailor-made package solutions that fits well with Lapp`s future strategy. The turnover of both companies is €40 million Euro. About 280 employees are employed there in total. SKS Group, originally existed of 8 companies, is a successful family-run engineering company represented by Heimo J. Aho and was founded in 1924.
government has set the target of producing 25,000 MW electricity using solar power. The minister gave this information during the Question Hour while replying to a question by MLCs Anandrao Patil, Hemant Takle, Bhai Jagtap and others. “Maharashtra is number one state in producing power
I
NDIA AUCTIONS 750 MEGAWATTS OF SOLAR AT 3.9¢/KWH
India auctioned off 750 megawatts of utility-scale solar power capacity over the last few days to wrap up a highly
through renewable energy, with 7,500 MW generation
eventful 2017 that saw new records being created in terms
capacity. The government wants to take to this capacity to
of tariffs.
10,000 MW...We have started new power generation units,
The famous Bhadla solar power park in the Indian state
in which we are focusing more on renewable energy. We plan to generate around 25,000 MW through solar energy,” he said.
NTI-DUMPING DUTY MAY ECLIPSE SOLAR ENERGY POTENTIAL IN RURAL INDIA
L
APP GROUP ACQUIRES LEADING COMPANIES IN CABLE HARNESSING AND AUTOMATION
V one
of
leading
Corporation of India auctioned 750 megawatts of solar power capacity at this solar power park. Interestingly,
IKRAM SOLAR’S ROOFTOP SOLAR SOLUTIONS AIDS SBI PATNA TO JOIN THE CLEAN ENERGY DRIVE Vikram
of Rajasthan is in the news once again. The Solar Energy
Solar,
while the projects will be located in Rajasthan, the power generated will be acquired by the neighboring state of Uttar Pradesh. There were two separate auctions of 500 megawatts and 250 megawatts. The first auction of 500 megawatts was oversubscribed 6 times over with interested developers
India’s
submitting bids for 3.1 gigawatts. The tariff bids were
module
between Rs 2.47/kWh (3.80¢/kWh) and Rs 3.29/kWh
manufacturer and a prominent rooftop solar & EPC
(5.07¢/kWh). While the viability gap funding (capital
solutions provider, successfully installed a 100KW rooftop
support by the government) was on offer, none of the
Solar PV system at SBI’s Local Head Office in Patna. Spread
developers opted for it.
across 2 buildings, the PV system is set to produce around 146000 kwh/annum. Ms Neha Agrawal, Corporate Strategy – Head, Vikram Solar, shared on the occasion, “At Vikram Solar, we remain committed to our objective of encouraging and protecting utilization of natural resources of energy. We are glad to
R
ENEWABLE ENERGY FUTURE HINGES ON POLICY EXECUTION
The year 2017 brought both despair and hope for the Indian renewable energy sector. The auctions in the wind energy
ever before. Research has shown that access to affordable
be able to associate with SBI, one of the India’s leading
and quality power is closely related to development,
Financial Institutions and help them switch to green energy.
especially in the rural milieu.
As it is, we promote new, clean and cost-effective power
came to a halt as the success of auctions transformed the
generation and implementation of better technologies.”
way states procure wind power—moving from feed-in
She further added, “Vikram Solar has a prestigious rooftop
tariffs to auction-based purchases.
project portfolio of 39 MW, including executed and on-
The transformation inflicted much pain. States became
S
OLAR TARIFFS RISE SLIGHTLY IN RAJASTHAN AUCTION
After a steep fall for over two years, solar tariffs rose marginally at the latest auction conducted by the Solar Energy Corporation of India (SECI).
going projects. We have completed over 180 solar rooftop projects till now and our major under execution project include- ISRO (3000kw), SL Group (1300kW), KBL (1500kw),
sector triggered a wave of disruption. Capacity additions
wary of the power purchasing agreements (PPAs) already signed at higher rates. Hit by buyer’s remorse, some sought
and WBPDCL (3044kw). Successful installation of 100KW
to renegotiate high tariff contracts while some resorted
The two part auction for 750MW at Bhadla solar park in
rooftop Solar PV system at SBI’s Local Head Office in Patna
to purchase back-downs. Back-downs refer to the buyers
Rajasthan held on Thursday and Friday saw the winning
is another feather in our cap.”
stopping, deferring, or reducing power offtake.
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Solar Quarter • December 2017 6
The Solar Revolution is on the The Solar fast track. The Solar
Revolution Revolution is on the is on the fast track. fast track.
in Technology first time in India. ®
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International News
S
UNGROW NAMED TOP 25 GLOBAL RENEWABLE ENERGY HONOREE BY THOMSON REUTERS Sungrow, global
the leading
inverter solution supplier
for
renewables, announced recently that Thomson Reuters, a leading source for news and industry reports for professionals across the globe, has named Sungrow as a Top 25 Global Renewable Energy Honoree in its Top 100 Global Energy Leaders rankings. The rankings represent the industry’s first holistic assessment of renewable energy companies, with its methodology emphasizing a quantitative and data-driven analysis in evaluating the
its energy sources and increase the share of solar in its power mix,” according to a report on trends shaping the energy landscape in the UAE.
P
OWER PRICES GO NEGATIVE IN GERMANY, A POSITIVE FOR ENERGY USERS Germany has spent $200 billion over the past two decades
H
OW INVESTING IN SOLAR ENERGY CAN CREATE A BRIGHTER FUTURE FOR AFRICA
to promote cleaner sources of electricity. That enormous investment is now having an unexpected impact — consumers are now actually paid to use power on occasion,
How would you like to earn a return of up to 6% on your
as was the case over the weekend.
cash while at the same time providing families in countries
Power prices plunged below zero for much of Sunday
such as Kenya with “life-changing” access to clean,
and the early hours of Christmas Day on the EPEX Spot, a
affordable solar energy?
large European power trading exchange, the result of low
Energise Africa is a new ethical investment scheme which aims to raise £20m to provide a brighter future for more than 110,000 families and small businesses in sub-Saharan
demand, unseasonably warm weather and strong breezes that provided an abundance of wind power on the grid.
A
by UK aid money from the Department for International
USTRALIA POST INSTALLS RECORDBREAKING SOLAR PANEL POWER SYSTEM
eight pillars of performance: Financial, Management
Development (DfID). And what is also notable is that,
Australia Post has installed the nation’s largest single-roof
and Investor Confidence, Risk and Resilience, Legal
unusually, some of the investments on offer benefit from
solar panel system at its Chullora sorting centre in Sydney.
Compliance, Innovation, People and Social Responsibility,
what is known as “first loss cover” – which means that if
Environmental Impact, and Reputation.
the worst were to happen, and the company was unable
award’s contenders.
Africa over the next three years.
The list determines organizations that outshine more than
Investors will find some reassurance that it is supported
1,500 energy companies by having high scores across
to pay back what it owed, individual investors would be
S
OLAR AND WIND POWER FACE SERIOUS THREATS FROM THE TRUMP ADMINISTRATION
prioritised ahead of DfID, thereby providing an extra level of protection.
from the White House and Republicans in Congress that
The French company “Sunna design”, based in Bordeaux,
could slow the industry’s growth in ways unimaginable
produces solar panels for public lighting in several
just a year ago.
countries around the world.
During Trump’s presidential campaign, energy analysts
But its founder, the young engineer Thomas Samuel, has
were skeptical of his promise to preserve the coal industry
another goal: to expand this “social business”, to address
at the expense of wind and solar. Even the most aggressive
directly consumers in developing countries, to give them –
attempts at regulatory rollback couldn’t reverse the market
through solar energy – access to the world.
forces driving the decline in coal, they reasoned.
Samuel knows Africa well. In this vast continent, 600 million
H
Tesla has been looking to shake up the solar market following its $2 billion acquisition of SolarCity last year. While the performance of the solar operations has been mixed in recent quarters, Tesla has been focusing on restructuring SolarCity’s operations, to transform its sales and marketing model, introduce new products and focus on more lucrative sectors of the solar market. Revenues from the company’s energy generation and storage business stood at $818 million over the first nine months of this year, accounting for less than 10% of total revenues. In this note, we take a look at how Tesla’s solar operations are faring.
$800,000 in annual energy costs. The record-breaking project also spans more than 11,000 pools.
energy developers face a slew of unanticipated threats
OW IS TESLA’S SOLAR BUSINESS FARING?
busiest parcel sorting facility. This will save more than
square metres, the same area as nine Olympic swimming
S
Less than a year into President Trump’s time in office, clean
The $3 million project will subsequently power Australia’s
OLAR ENERGY IN AN APP TO POWER AFRICA
people do not yet have access to electricity. Yet 80% of the population has a mobile phone. Here is the challenge. With a small solar panel, as big as an iPad, people can run three light bulbs and, most importantly, charge a cell
The 2.1 MW installation will save 2,200 tonnes of carbon emissions each year. This is like taking 468 cars off the road.
S
INENG ELECTRIC ADDRESSES THE CURTAILMENT CHALLENGE BY SUCCESSFULLY APPLYING ITS DC-SIDE ENERGY STORAGE CONVERTER INTO THE UPGRADE AND RENOVATION OF EXISTING PV FACILITIES Leading Chinese electric
utility
China
Huaneng
Group
formally
i n i t i a t e d
phone that is sold with the rest of the kit. The project is
operation of the first direct current (DC)-side energy storage
called Moon, like the light of the moon. People pay a very
upgrade and renovation of its solar photovoltaic (PV)
small sum per month and after six months or one year,
plants recently, on the heels of a successful commissioning
they become owners of their kit. Access to a smartphone
of the project. The project was launched as part of the
changes their lives: communication with distant relatives,
fourth phase of Huaneng’s 180 MW central PV plant in
various applications to help them manage family accounts,
Golmud, Qinghai province, China. The 3.5 MWH first-phase
malaria prevention, or learn a foreign language.
of the energy storage demonstration facility selected lead carbon and lithium iron phosphate batteries as the
H
ARVESTING THE SUN FOR ENERGY INCREASES EFFICIENCY BY 60 PERCENT
energy storage solution. With Sineng Electric’s DC/DC converter designed specially for PV energy storage on the DC-sidein combination with China Huaneng Clean Energy Research Institute (CERI)’s proprietary DC-side PV energy
A unique project that combines solar energy with keeping
storage management system, the energy storage system is
crops healthy has proven to be a more efficient use of land
connected to the DC input side of the solar inverters at the
in Germany. The so-called agrophotovoltaic system may
PV plant in operation, helping transform a traditional PV
‘’The development of the renewable-energy sector in
be the future of solar power in Germany and elsewhere.
set-up to a PV energy storage station.
the UAE has been moving ahead rapidly. Enjoying strong
Solar energy has become an increasingly attractive
government support, solar energy has made particularly
renewable source of electricity for both nations and
impressive progress. The UAE has again received some
private enterprises alike. This is especially true as today’s
of the lowest renewable-energy prizes awarded globally
photovoltaic systems have become considerably cost-
for both photovoltaic (PV) and concentrated solar power
effective. But long before we started using the Sun to
(CSP), highlighting the great resources available in the
cultivate electricity, agriculture has depended on this solar
country and the GCC,’’ according to a report from the
resource.
S
OLAR ENERGY IN UAE MAKING IMPRESSIVE PROGRESS
Energy Research Department of the Arab Petroleum Investments Corporation, APICORP.. The report indicated that many factors were contributing to this early success, with financing playing a critical role in achieving low costs.
Now,
thanks
to
a
research
project
called
the
Agrophotovoltaic – Resource Efficient Land Use (APVResola) at the Demeter farm in Germany, the Fraunhofer Institute for Solar Energy Systems ISE prove that it’s possible to combine both farming and energy-harvesting
‘’To meet rising demand, the country has embarked on a
into one facility. Best of all, this agrophotovoltaic setup
challenging mission to increase energy security, diversify
actually increases land use efficiency by up to 60 percent.
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Solar Quarter • December 2017 8
Rajasthan’s First Fully Automatic Solar PV Module Manufacturing Unit
INSOLATION ENERGY PVT. LTD
Superior Module Efficiency as per International Benchmarks Positive Power Tolerance 0/+3W PID Free Modules with long term reliability Salt mist,Ammonia, Blowing Sand and Hail Resistant Excellent Energy generation in weak light Sustain Heavy Wind & Snow loads (2400 Pa & 7500 Pa)
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Solar Quarter • December 2017 9
In Conversation SOLAR CAPACITY ADDITION ON ALL INDIA LEVEL REMAINED AT 5.5 GW IN FY 2017 AND 2.5 GW IN H1FY2018
MR. GIRISHKUMAR KADAM Vice President and Sector Head, Corporate Ratings, ICRA Limited
LET’S START WITH THE RECENT DEVELOPMENTS FOR SOLAR SECTOR IN LAST ONE YEAR Solar capacity addition on all India level remained at 5.5 GW in FY 2017 and 2.5 GW in H1FY2018. While solar energy capacity share in the all-India installed overall power generation capacity still remains limited at 4% as on Sept 2017, its share is rising considerably in renewable segment, also given the fact that wind capacity addition in near term remains adversely affected due to migration from feed-in tariff to bid tariff with limited progress seen in signing of bid based PPAs for wind energy in the current FY. The bidding activity for award of solar projects has however slowed down in CY 2017 (till Nov) as reflected in awarded project capacity of 3.75 GW as against 7.2 GW in the corresponding period of CY 2016. This is also in the midst of several factors like GST roll-out w.e.f. July 2017, an upward pressure on PV module price level in recent months, uncertainty on anti-dumping duty as well as the finalization of the new bidding guidelines for award of solar projects in August 2017. Further, the tariff competitiveness of solar photovoltaic (PV) energy has also improved in CY 2017 (9M) as evident from a decline in weighted average bid tariff to Rs. 3.12/kwh from Rs. 5.01/kwh in CY 2016 which is on account of the declining price trend of an imported PV module till May 2017 & also, the aggressive expectations by the bidders on module price level forecast. The lowest solar PV bid tariff so far remains at Rs. 2.44/kwh discovered in May 2017 for the project capacity awarded by Solar Energy Corporation of India Ltd (SECI) under National Solar Mission in Badhla Solar Park, Rajasthan.
AS THE ASSETS BECOME OLDER, WILL AGGRESSIVE BIDDING TODAY BECOME A PAIN POINT FOR THE INDUSTRY A FEW YEARS DOWN THE LINE? The imported PV module prices have shown an upward trend over the last five month period, increasing by about 15-17%, from about 30-32 cents /watt in May 2017 to about 36-38 cents/watt in September 2017. This increase is due to factors such as a) advancement of module sourcing from China by companies in the USA, in anticipation of imposition of anti-dumping duty on Chinese modules by December 2017, and b) extension of feed-in tariff regime for solar power projects in China till December 2017, thereby increasing demand. Such pricing pressure on imported PV modules, if sustained over the next three to six-month period, will have an adverse impact on the viability of the recently bid solar power projects, especially where the bid tariff is below Rs. 3.5/unit. However, the magnitude of such impact will vary based on the tariff level
GIVEN THE SINGLEPART TARIFF STRUCTURE FOR THESE PROJECTS, THE PROJECT CASH FLOWS AND HENCE DEBT SERVICEABILITY IS DIRECTLY LINKED TO THE ACTUAL GENERATION AND OFF-TAKE BY THE
and other assumptions. As per our estimates, a 6 cent/watt increase in the PV module price is estimated to result in an
PROCURERS.
increase of about 11% in the capital cost, which in turn is estimated to result in a decline in cumulative average debt service coverage ratio (DSCR) by 0.12 times and decline in
“SUCH PRICING PRESSURE ON IMPORTED PV
project IRR by 180 basis points for a solar power project with tariff of Rs. 2.5 per unit, assuming a debt: equity ratio of 70:30, INR-USD exchange rate of 65, cost of debt at 9.5% post commissioning with a debt repayment tenure of 18
MODULES, IF SUSTAINED
years and a PLF level of 24% (with DC-AC ratio of 1.3 times
OVER THE NEXT THREE
viability of solar bid tariffs remain critically dependent
TO SIX-MONTH PERIOD, WILL HAVE AN ADVERSE IMPACT ON THE VIABILITY OF THE RECENTLY BID SOLAR POWER PROJECTS, ESPECIALLY WHERE THE BID TARIFF IS BELOW RS. 3.5/UNIT”
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and degradation factor of 0.5% per year). In this context, upon the capital cost, PLF level and availability of a long tenure debt at cost competitive rate. With imported PV module content, the capital cost for solar PV energy project remains exposed to volatility in both i.e. PV module price level and INR-USD exchange rate.
be scheduled before any other source of power, there have been instances in a few states like Tamil Nadu and Rajasthan, where grid curtailment has been observed. Given the single-part tariff structure for these projects, the project cash flows and hence debt serviceability is directly linked to the actual generation and off-take by the procurers. In case of a delay in commissioning of transmission infrastructure or grid unavailability leading to loss of generation in any particular year, the compensation is in the form of procurement of excess generation (generation in excess of the maximum capacity utilisation factor (CUF)) equal to the generation loss, during the succeeding three contract years at PPA tariff. In case of a grid back-down, the minimum
ASSESSMENT FOR NEW BIDDING GUIDELINES FOR AWARD OF SOLAR PROJECTS TO MITIGATE CONCERNS FOR SOLAR SECTOR
compensation shall be based on the average generation
The new bidding guidelines provide for compensation
the cumulative debt service coverage ratio (DSCR) for the
to solar power generators in case of off-take constraints
project would decline from 1.28 times to 1.14 times in case
arising from the delay in commissioning of transmission
of a grid back-down for 10% of the time and without any
infrastructure, grid unavailability and grid back-down,
compensation. However, the availability of compensation
which is favourable for solar power generators. While
at 50% of the PPA tariff, would lead to a cumulative DSCR
wind and solar power projects enjoy a “must run” status
of 1.21 times, thereby lowering the impact of the grid back-
under the Indian Electricity Grid Code (IEGC) and have to
down on the debt coverage metrics of the project.
per hour during the month and the number of hours lost due to grid back-down at 50% (min) of the PPA tariff. For a solar power project having long-term PPA at Rs. 3.00 per unit and set up at a capital cost of Rs. 5.00 crore per MW,
Solar Quarter • December 2017 10
The Solar Revolution is on the fast track.
in Technology first time in India. ®
n
Exceptional performance under thermal stress
en in low light
Glass and polymer with anti-reflective coating
mely light
OFTOP UTIONS
m|
PROJECT DEVELOPMENT
MODULE MOUNTING STRUCTURES
INDEPENDENT POWER PRODUCER
waaree@waaree.com | w w w . s o l a r q u a r t e r . c o m
SOLAR WATER PUMP
SOLAR THERMAL
SOLAR PRODUCTS
1800 2121 321 Solar Quarter • December 2017 11
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Solar Quarter • December 2017 12
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Solar Quarter • December 2017 13
In Conversation STERLITE POWER IS INDIA’S LEADING PRIVATE POWER TRANSMISSION PROJECT DEVELOPER WITH OVER US $3 BILLION COMMITMENT
MR. ANIL RAWAL Vice President and Head, Business Acquisition, Sterlite Power
RE capacity addition by 2022. The solar and wind power
norm at Sterlite Power. To ensure environment friendly
generated by these States may not be consumed fully by
construction and operations, use of Guyed towers,
these States. Power generated from RES by these States
monopoles, multi-circuit towers, micro-piles, and insulated
needs to the transported to the load centers through
cross arms are now being adopted and employed by us.
transmission networks. This requires strengthening of
Also, technologies like HTLS conductors have resulted
existing networks of the grid.” In the comings days as more
in 2X-3X increase of current carrying capacity of existing
and more renewable power gets commissioned, the load
corridor without replacing the existing transmission towers.
on the existing transmission lines will increase. Unless,
network may work as bottleneck in the same reaching to
WHAT ARE YOUR GROWTH PLANS FOR THE INDIAN TRANSMISSION MARKET? WHAT ARE THE MILESTONES YOU WISH TO ACHIEVE IN THE COMING YEARS?
the end user.
Sterlite Power is acknowledged for its ability to conceive
the transmission lines match the speed of commissioning of renewables, India could face a scenario where the generation capacity would exist but the lack of transmission
GLIMPSE OF YOUR COMPANY’S PRESENCE AND OFFERINGS IN INDIAN RENEWABLE ENERGY SECTOR? Sterlite Power is India’s leading private power transmission project developer with over US $ 3 billion commitment. The company’s Infrastructure business has a portfolio of 15 projects including 3 projects in Brazil helping to evacuate both conventional as well as renewable energy. The company has a rich track record of completing projects ahead of time thereby bringing cost and time efficiencies. By maintaining above industry benchmark for availability, our networks are playing important part in providing reliable access to power. Sterlite Power in addition to these projects have been adding value by reducing the AT&C losses by the virtue of its solutions and more importantly its ‘faster & safer projects’.
WHAT HAVE BEEN SOME OF THE RECENT DEVELOPMENTS AT STERLITE POWER?
and implement the projects in a environment friendly manner adhering strictest norms to create social value and empowering humanity by addressing toughest challenges of energy delivery. Under the PPP mode, currently we have
Sterlite Power has recently added three projects to its
a market share of more than 30% in transmission sector
portfolio bringing the total no. of projects to 15 with over
and in the coming years, we wish you improve the same
11,000 CKm and over $3 billion capital commitment.
significantly.
TELL US A BIT ABOUT THE RECENT TECHNOLOGICAL INNOVATIONS IN TRANSMISSION SECTOR?
STERLITE POWER HAS
Time, space and capital are three key constraints in realizing
RECENTLY ADDED
the 24x7 power availability dream of the country. Matching
TWO PROJECTS TO ITS
evacuation with the commissioning of renewable projects is the current topmost challenge of the transmission industry.
PORTFOLIO BRINGING THE
The 175 GW by 2022 goal presents a need for a fresh look
TOTAL NO. OF PROJECTS
at the planning of the transmission assets to ensure future
According to the Central Electricity Authority’s, National
readiness. India like few of the advanced countries would
TO 15 WITH OVER 11,000
Electricity Plan 2016, “Solar and Wind map of India
move into adopting technologies like LIDAR, Drones,
indicates that the potential of solar and wind power is
Heli-cranes and innovative tower designs and conductor
CKM AND OVER $3 BILLION
concentrated mostly in few solar and wind rich States. In
specifications in the construction of transmission assets.
fact, 9 States in India accounts for more than 77% of the
Significantly, usage of these technologies is now new
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CAPITAL COMMITMENT.
Solar Quarter • December 2017 14
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Solar Quarter • December 2017 15
In Conversation RESCO OR RISKO – ROOFTOP SOLAR PROJECTS WHAT ARE THE CURRENT AND POTENTIAL CHALLENGES FRONTING ON SOLAR EPC SECTOR IN INDIA THESE DAYS? MR. VIKALP MUNDRA Joint MD, Ujaas
EPC business can be segmented in
PROJECT PERFORMANCE IS A VERY IMPORTANT GREY AREA, AS THE
Govt. & Private.
Dealing with Govt. EPC has its own share of challenges, the
REPERCUSSIONS ARE
govt. depts. treats Solar EPC as any other EPC contracts
VISIBLE ONLY AFTER 2-3
and sometimes their expectations are beyond viable range,
YEARS.
where as on cost and time frame they see Solar with a different watching glass, hence, the expectations becomes difficult to match. In the aggressive bidding scenario,
Most of the companies in Solar industry is in phase of re-
strict rules and fix the responsibility to the officers to close
inventing its niche business area. There is a lot of work,
the project within a specified time line.
PROJECT PERFORMANCE IS BECOMING AN INCREASINGLY IMPORTANT FACTOR FOR PROJECT DEVELOPERS. HOW DO YOU ADDRESS THE PERFORMANCE RELATED DEMANDS & CONCERNS OF THE PROJECT OWNERS?
Clubbing of un-necessary works with Solar projects also
Project performance is a very important Grey area, as the
creates a lot of issues, as the tender specifications vaguely
repercussions are visible only after 2-3 years. In the era
describe the actual quantum of work and it becomes
of aggressive bidding many companies are taking short
very difficult to bid accurately. Hence, you may see vast
routes and the project will definitely face a lot of problems.
differences in bids some times.
The main reasons can be wrong designs, degradation of
LET’S START WITH THE RECENT DEVELOPMENTS AT YOUR ORGANISATION IN LAST ONE YEAR.
and irony is there is a scarcity of decent profit. Most of the companies are very aggressive in bidding and learning the lessons in hard way. Few learned it and few are still in the process. At Ujaas we are always conservative and focused on bottom lines rather that Top Line growth. There are many External challenges with which Solar industry is coping up. As all sunrise business has to face ripples and solar is no different.
companies are bidding with a single digit mark-up, without realising that balance payment of 5-10% remain balance for years, as there is no incentive for any one to close the project. And contractor is an easy target. Govt. must bring
Private EPC business carry a different type of risk, if EPC contractor did not secure himself from payment risk, it will be a nightmare to come out of the project.
WHAT ARE YOUR VIEWS ON RESCO ROOFTOP PROJECTS.
PEOPLE HAVE A DIFFERENT PERCEPTION
On a lighter note I called them as RISKO projects. Such projects are flavour of the day, but again I’m failed to understand, (you may blame it to my conservative mind set) how my capital asset is protected. In India the respect
modules more than expected (read guaranteed). It will be a hell lot of task to claim degradation compensation from the module manufacturer.
DO YOU EXPECT TO SEE THE AGGRESSIVE BIDDING AGAIN BY THE DEVELOPERS OR HAVE THE TARIFFS BOTTOMED OUT FOR THE PRESENT? The world is having huge Hot money, which is chasing for even Positive returns. Few bidders want to make a portfolio of projects, where they can club the higher tariff projects
OF RISKS & RETURNS,
to contract law is very poor. And over and above the asset
HENCE EVERY CONCEPT
years the roof owner have any problems, may be financially,
HAS A MARKET FOR ITS
years will it take to enforce legal action. It normally takes
Such biddings are good for few but definitely not good for
couple of years to receive a legal recourse even in Cheque
industry as a whole.
OWN. ONE THING I CAN
Bounce case.
ADMIT THAT RESCO IS A VERY SHORT ROUTE TO ACHIEVE GOOD FINANCIAL
is in custody of the customer. God forebid if after a few may be other and stop paying for the Electricity, how many
MARKETS.
to them. Hence, no one can predict where is bottom of bottom.
Can a ‘AAA’ rated company retain its category for 25 years ? History of business gives a very different story, one can see data from Wall Street to BSEs. Going ahead to Govt. Roofs, our govt. hospitals do not pay even to oxygen suppliers on time, will they pay to RESCO operator on time. This is a very big question mark. I wish
VALUATION IN MONEY
with lower tariffs and can achieve a minimum size to offer
good luck. But, people have a different perception of risks & returns, hence every concept has a market for its own. One thing I
AT UJAAS WE ARE ALWAYS CONSERVATIVE AND FOCUSED ON BOTTOM LINES RATHER THAT TOP LINE GROWTH.
can admit that RESCO is a very short route to achieve good financial valuation in money markets.
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Solar Quarter • December 2017 16
In Conversation WE DO NOT BELIEVE IN GROWTH BY COMPROMISING ON THE RETURNS AND QUALITY OF ASSETS
MR. RAVI KHANNA CEO, Aditya Birla
GIVEN THE EXTREMELY COMPETITIVE NATURE OF THE TARIFF, HOW CONFIDENT ARE YOU OF SUCCESSFULLY DEVELOPING THE PROJECT ON TIME AND GENERATING COMFORTABLE RETURNS? We do not believe in growth by compromising on the returns and quality of assets. We have enough sticking power to
WHAT IS YOUR COMPANY’S PORTFOLIO MIX AND WHAT ARE THE PLANS IN TERMS OF CAPACITY ADDITIONS?
DO YOU THINK INDIA WOULD BE ABLE TO ACHIEVE SOLAR ENERGY TARGET OF 100GW BY 2022. HOW MUCH IS THE COMPANY PLANNING TO INSTALL IN THIS SEGMENT? Without sounding pessimistic and going by the trend in last 3 years the indications are that we might miss the 100 GW target by 2022. For achieving the target, it is imperative to have a consistent policy to allow developers to chalk out
wait for the right organic and inorganic opportunities.
a long-term strategy. Time taken from the tender to CoD
Since we are not vying for very large capacities and the size
is to the tune of 18-24 months and hence it is essential
of the cake is fairly large we are quite confident of swelling our portfolio steadily at acceptable rate of returns.
that at any given time the pipeline of tenders for the target capacity is full 18-24 months in advance. Honouring the conditions laid down in RFS and PPA are yet another important dimension of sectoral growth.
largely in the ground mounted grid synchronized solar
AT WHAT PRICE DO YOU SEE SOLAR TARIFFS STABILISING IN FUTURE TENDERS?
system having foot prints in Rajasthan, Gujarat, Telangana,
Solar tariff is dependent on the solar insolation, land
Solar tariffs are now competing very favourably with
availability, project size, PPA bankability and so on. In past,
thermal power tariffs, we are still not factoring the cost of
developers have speculated a drop in module price which
making all our Thermal plants meet emission standards.
has not been realized and some of the recently discovered
Fully loaded this cost may increase substantially or certain
Primarily, our portfolio comprises of a happy blend of private and government PPAs in the ratio of 1:1. We are
Karnataka, Maharashtra and Odisha. We target a capacity addition to the tune of 150-250 MW per year in next 2-3 years.
HONOURING THE CONDITIONS LAID DOWN IN RFS AND PPA ARE YET ANOTHER IMPORTANT DIMENSION OF SECTORAL GROWTH.
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tariffs are stressing the returns. In addition, the fear of anti-dumping duty and recent hike
DO YOU WANT TO ADD ANYTHING ELSE FOR OUR READERS?
capacities will become redundant. Besides the green aspect of technology, the economic benefit of installing solar power is going to override and fuel the growth. With
in capex due to GST are further accentuating the problem.
the cost-down of storage Solar power in combination with
It is, therefore, anticipated that solar tariffs may stabilize
storage system will challenge the thermal power move
around Rs. 3-3.50/kWh.
from playing a second fiddle to conventional power to mainstream power source.
Solar Quarter • December 2017 17
Industry Perspective
“WHAT ARE THE MAJOR TRENDS WE WILL SEE IN SOLAR SECTOR IN 2018?”
2
017 is shaping up to be a record year for solar
1500V inverters would probably increase their market
PV installations worldwide as well as in India.
share as plant owners try to exploit every ounce of
We have also witnessed sub 2cents/kwhr tariffs in
optimization feasible in order to achieve lower LCOE’s,
auctions in Saudi Arabia and Mexico for projects that
while the scale of the blocks increase due to average
are expected to be commissioned over the next 24-30
increase in project capacities. 2018 would also see a
months, thereby creating a further compression in the
an increased focus on hybridization of PV systems with
overall value chain that needs to be met by equipment suppliers, financing agencies and the service providers (engineering, procurement and O&M).
storage or other forms of generation as grid capacity
MR. SUJOY GHOSH Country Head, First Solar, India
congestion issues begin to start becoming noticeable with the growth in both solar and wind in the recent past.
Hence the companies that continue to focus on reducing costs, increasing scale and lowering their cost of capital/ cost of doing business would be able to sustain through these times. Specifically on the PV module technology,
We have also witnessed sub 2cents/kwhr tariffs in auctions in Saudi Arabia and Mexico for projects that are expected to be
the focus would remain on lowering of cost of production by either optimizing manufacturing processes, and/ or
commissioned over the next 24-30 months, thereby creating a
leveraging economies of scale. Also with the transition to more installations between the two tropics, there would be equal focus on long term reliability under harsher climates (hot and humid) and quality and consistency of processes would be under increased scrutiny from the end users.
R
further compression in the overall value chain that needs to be met by equipment suppliers, financing agencies and the service providers (engineering, procurement and O&M).
everse bidding has become a norm in the renewable
balancing the capacities and cost will make Solar sector
energy sector. The low tariffs especially pertaining
more profitable in future. With Global companies such
to Solar sector can be attributed to the decreasing cost
as Tesla overlooking Battery Storage innovations, this
of solar modules due to advancement in technology.
future might not be too far away.
However, it is noteworthy that even today, most of our
From an investment standpoint, Rooftop Solar has gained
capacity comes from Chinese manufacturers. The heavy emphasis by the government on ‘Make In India’ initiative is expected to drive the domestic manufacturers into building capacities to compete with the Chinese manufacturers. This would increase the self-reliance of the Solar sector by reducing dependencies. Intermittence in energy supply has been an age-old characteristic of renewable energy sector. Although Solar provides a more predictive forecast based on seasonality and time of the day, the power generation remains intermittent. The increasing global awareness on Battery storage and the technological innovations in this sector is bound to impact the Solar sector in the coming year. A successful breakthrough in terms of
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momentum and this trend is expected to continue into 2018. Rooftop Solar has seen investment from small scale investors as well, since it provides energy security coupled with government incentives. Another interesting trend we expect to see in Solar sector, especially in the near future, is the rise of smart grid solutions and Hybrid models using both wind and solar power generation. The increasing use of digitalization has already reached the Solar sector and we expect to see increased efficiencies because of this. In conclusion, 2018 will be an interesting year for Solar sector from supply chain point of view as well the enhanced efficiencies.
MR. GEORGE JOHN Head - Mytrah Global Services, Mytrah Energy
Solar Quarter • December 2017 18
Industry Perspective
“WHAT ARE THE MAJOR TRENDS WE WILL SEE IN SOLAR SECTOR IN 2018?”
G
lobally, India has probably the most robust policies
demand and ensured energy offtake. Schemes such as
in place for all forms of Renewable energy. What
‘Deen Dayal Upadhyaya Gram Jyoti Yojana’ (DDUGJY)
can be expected in 2018 borrows heavily from the
and ‘Ujwal Discom Assurance Yojana’ (UDAY) have been
initiatives the Government has in store for the sector.
important enabling factors from a macro perspective.
Specific targets and a well-defined roadmap to achieving
Such developments have spurred growth in the sector
them are encouraging. Addition of power generation
– which stands at 15GW plus installed capacity on date.
capacity – especially through solar parks; building of
The achievement of 100GW of solar isn’t far.
domestic manufacturing capacities; refinements in Solar Policy (for utility scale & rooftop systems) and
Technology, on the other
Bid Document – in particular, with regard to applicable duties and taxes; resolution of State-specific project
hand has also grown steadily,
development bottlenecks; and enhanced bankability of
reflecting in increased
projects - these are some initiatives in the offing by the Government.
component efficiencies at
Technology, on the other hand has also grown steadily, reflecting
in
increased
component
efficiencies
competitive prices. However,
at
competitive prices. However, with regard to PV modules,
MR. DEVIN NARANG Country Head-India, Sindicatum
with regard to PV modules,
prices are expected to pick up from the lows seen
prices are expected to pick up
hitherto while stabilizing at the optimum. Although the Indian market is nascent when it comes to Storage, it
from the lows seen hitherto
would be interesting to see how solar projects combined with storage sustain in the long run. Finally, two
while stabilizing at the
(interconnected) aspects that need concerted initiative
optimum.
from different stakeholders are: creation of energy
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+91 80235 68018 Solar Quarter • November 2017 Solar Quarter • December 2017 19
Industry Insights
Where Are Indian Solar Tariffs Headed?
A
s a very interesting year for renewable energy draws to a close in India, it’s a good time to do some crystal ball gazing to try and predict what lies in store for us in the new year. I am a firm believer that the staggering financial ( just imagine a zero national oil import bill for a moment) and societal benefits to be had from decarbonization will be centered around solar based generation on the one hand, and transmission & storage which will evolve to keep pace on the other. Other forms of renewable generation will certainly make significant contributions, but solar will anchor it all.
When it comes to solar the most crucial variable is tariff.
comprises a combination of a Letter of Credit and a State
between cost of borrowing and the return they require
In a business where capex cost is fairly standard for all
Government Guarantee – with the Tripartite Agreement
on their investment will increasingly tighten.
developers and debt too is available to most developers
signed between the RBI, Central Governments and State
borrowing itself will also face continued downward
at pricing that falls in a narrow band, it is the required
Governments specifically qualifying as the Guarantee.
pressure both at the primary bank project finance level
or targeted return on equity, translated into bid tariff,
This is noteworthy because a draft version of the
as well as the refinance level, including via a selectively
which determines if a bidder secures capacity at all in
Guidelines circulated to stakeholders earlier in February
receptive bond market which may even allow developers to
a reverse auction regime, and if an acceptable return is
allowed for an element of optionality around the topic
pierce domestic bank base rates at some point for the right
made on the capacity thus secured.
of State Government Guarantee.
portfolios. Global tariff trends all point in this direction.
The last reported historic low of Rs.2.44 (3.75cents) was
Global trends also support a further softening of tariffs
So what does all this mean for tariffs in 2018? Barring
achieved in a tender floated by Solar Energy Corporation
in India. The past six months may have seen a lull in
of India (“SECI”) in May 2017. At the time of writing this
domestic activity, but the rest of the world has been
article SECI has reportedly managed to secure a tariff
pretty busy tendering out capacity. And the implications
of Rs. 2.47 in bidding carried out after a long hiatus
are clear, particularly because solar is as global a business
of about six months. This parity with the previous low
as it gets. A common pool of capital freely chases solar
was achieved despite much speculation that tariffs were
development risk & returns across countries. This free
due a major upward correction as they had fallen too
movement of capital, along with the standardized nature
low, too fast, particularly in the backdrop of hardening
and cost of the components, combined with an input
module prices.
So what managed to offset upward
(sunlight) which is equally free of cost and predictably
pressure on tariffs to result in new levels at par with the
available everywhere on the globe will result in a strong
previous lows?
tendency for tariff levels to move in unison.
Giving a downward push to tariffs, and thus acting as
not to say that tariffs should nominally equalize across
counterweights to module price rise, are de-risked PPA’s
countries.
and an increasingly benign risk perception of solar, the
offtake credit risk, cost of borrowing, irradiation and
latter being a trend which is manifesting itself at a global
individual nature of electricity markets will prevent such
level. In August the Ministry of Power released its official
parity, but adjusted for these differences global tariffs
Guidelines for Tariff based Competitive Bidding for Solar
should all gravitate towards a narrow band. This also
PV which seeks to close several of the loopholes in
means that boundaries which are tested in one country
earlier PPA’s which resulted in power not being offtaken,
will set benchmarks for others. While tariff levels may
either due to unavailability of transmission, or Discom’s
remain high in certain countries where they are policy
arbitrarily instructing developers to back down from
driven (feed in tariff), countries which have shifted to
generation. The workarounds are not water tight (loss of
market driven price discovery regimes such as India
revenue due to transmission constraints can take three
have seen tariff levels fall steeply. For example Chile
years to recover while only 50% of generation lost from
(Rs.1.40/2.15cents),
back down is compensated) but PPA’s incorporating
Saudi Arabia (Rs.1.16/1.78cents) have achieved tariffs
key operative clauses of the Guidelines will be viewed
almost half of Indian levels in the preceding four months
as being substantially de-risked in comparison to their
and this hints at just the kind of boundaries that may be
previous avatars. It is also worth pointing out that in the
tested in the future.
case of tenders where intermediate offtakers (such as
This brings me to my final point. As developers get ever
SECI) in turn sell power to state Discoms, the Guidelines
more comfortable with the project specific contractual
mandate a two tier Payment Security mechanism covering
protections offered to the solar top line in India, and take
payments from the latter to the former. This mechanism
their cues from events unfolding globally, the spread
w w w w w w .. ss oo ll aa rr qq uu aa rr tt ee rr .. cc oo m m
This is
Differences in currency & country risk,
Mexico
(Rs.1.28/1.97cents)
Cost of
future shocks to capex including as a result of adverse impact of anti dumping duties or safeguard duties flowing from the investigation initiated by the Ministry of Finance a couple of days ago, I expect tariffs to fall further and maybe even come close to testing the Rs. 2.00 (3.00cents) level for central offtake projects. A waiver of inter-state transmission charges for solar projects completed by December 31, 2019 will act as a further suppressive force over tariffs, at least for those tenders which provide sufficient runway to allow for completion before the deadline. Once achieved, such tariff levels will have far reaching consequences for the country and will mark an inflection point clearly separating companies that were involved in the business of development and energy generation in the past, and those that will define this space in the future. I will be keenly tracking the outcome of next year’s auctions to see if my hunch proves to be correct, as I am sure you will too.
and
GAGAN SIDHU The author is a Senior Independent Adviser who advises clients in the areas of renewable energy finance, investment & strategy. He was previously CFO at GMR Renewable Energy, and prior to that an Investment Banker with ING Bank across several global locations.
Solar Quarter Quarter •• December December 2017 2017 20 20 Solar
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Solar Quarter • December 2017 21
Industry Insights GST IMPACT ON SOLAR POWER GENERATION PROJECTS – NOT SO SUNNY! The year gone by witnessed a paradigm shift in Indian
increase in the effective indirect tax incurred on setting
services is 18 percent. On the face of it, one could argue
indirect taxation system as the nation migrated to the
up of a power plant would be incremental cost thereby
that the turnkey project of setting up a solar power
goods and services tax (‘GST’) regime effective July 1,
adversely impacting the profitability of power generation
plant is indeed to be considered a composite contract
2017. This new scheme of taxation is undoubtedly a
/ distribution business.
for supplies of goods and services. Hence the tax rate
mammoth improvisation over the erstwhile indirect
of 5 percent should apply on the total contract value, in
GST has led to standardization of indirect tax laws across
PRINCIPAL MOTIVE OF THE NATIONAL SOLAR MISSION
the country thus making the indirect tax laws more
The Government has always strived to boost the
tenable (for the reasons explained later), even if it was
renewable energy sector. This is also evident from the
assumed to be correct, it would lead to an inverted duty
current government policies and initiatives. The Jawaharlal
structure (i.e taxes on input leg being higher than the
Nehru National Solar Mission launched in January 2010
taxes on output side) and thus lead to huge working
by the then Prime Minister of India, Dr. Manmohan Singh
capital blockage issues and consequently, long-drawn
aimed at reducing the cost of solar power generation in
refunds dependencies at the end of the department.
landscape in India on several counts. First and foremost,
intelligible and business friendly especially for foreign investors. GST has also lead to removal of multiplicity of taxes and thereby their cascading impact in product / service pricing. Furthermore, it is with the advent of GST that uniformity in tax rates on goods could finally be achieved throughout the country. Standardization of tax compliances on pan India basis have also significantly lead to ease of doing business in India. GST laws have also effectively put to rest the characterization and taxability related disputes of several historically debated commercial transactions such as hiring / leasing of
the country. Notable that the policy itself incorporated specific clauses to provide fiscal / taxation incentives including custom duties and excise duties concessions/ exemptions on specific capital equipment, critical materials, components and project imports.
industries. This has lead to ambiguity in applicable GST rates on several product / transaction types. This write-up is an endeavor to highlight the adversarial impact of GST on turnkey projects for setting up of solar power generation systems, in view of the way the Indian GST laws are currently structured. into
solar
the
power
sector under GST, a sneak peek into the erstwhile tax benefits available to solar power generation projects. In order to boost the solar energy sector, various tax incentives had been provided by both central as well as state governments for setting up, operation and maintenance of solar power plants. This included exemptions / tax rate
by the industry to the Ministry of New and Renewable
concessions under several erstwhile indirect tax laws including the Central Excise Act (“Excise Act’), state value added tax (‘VAT’) legislations as well as under the Indian customs laws, specifically for capital goods and inputs used for setting up of solar power generation systems. Considering the tax rates structures and the cost breakup in a typical turnkey project for setting up of a solar power plant, the indirect tax costs thereon worked out to approximately 6-7 percent of the project cost. Post implementation of GST, as things stand, States would continue to tax electricity vide entry 53 of List II of Seventh Schedule of the Constitution of India (‘Constitution’), as this entry has not been subsumed under GST. Further, even though the entry 54 of List II of Seventh Schedule of the Constitution which empowered the states to levy tax on ‘sale of goods’ has been subsumed as part of GST, the GST rate on electrical energy is Nil. This is in line with the stated intent of the government to keep electricity outside the purview of GST. Also, taxes on transmission or distribution of electricity have been exempted under GST. On the other hand, taxes on various inputs, capital goods and input services used for generation of renewable energy would be subject to GST. With the supply side of a power plant, namely electricity, being not subject to GST, taxes paid on procurements would continue to be non-creditable for the project owner. Thus, any
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This effectively
since the overall GST rate of 18 percent needs
reignited classification debates for several
dive
Work contract transactions have been specifically
“ANY INCREASE to be applied on the contractor’s billing IN THE EFFECTIVE which becomes cost for the project owner. INDIRECT TAX Recently the All India Solar Industries INCURRED ON Association (‘AISIA’) made a SETTING UP OF statement that GST has led to 10-12 A POWER PLANT per cent rise in overall cost of solar WOULD BE projects. Such a material increase in indirect tax incidence on solar power INCREMENTAL COST projects would effectively make the THEREBY ADVERSELY such projects commercially unviable, IMPACTING THE especially the tax inclusive contracts PROFITABILITY continuing from pre-GST regime. This also defies the policy level intent of the OF POWER government to encourage and promote GENERATION / renewable energy sector, particularly solar DISTRIBUTION power based generation of electricity in India. BUSINESS.” Till date, several representations have been filed
as process related challenges, GST has also
the
same lead to construction of an immovable property.
in setting up of a solar power plant, redundant
GST era. Besides several interpretational as well
deep
works contract as defined under the GST laws since the
renders the lower GST rate notified on devices used
face any transition challenges in the roll-over to the
for
setting up solar power plant as a whole will qualify as
for solar power generation projects.
offered, is however, not to suggest that India Inc did not
we
Secondly, and more importantly, turnkey contract for
rate of 18 percent with no exception being carved out
The foregoing narration of the benefits that GST has
challenges
under the GST laws. While such a position legally not
deemed to be services under GST attracting GST at the
goods, job-work / works contract transactions etc.
Before
view of the principle of taxation of composite supplies
GST IMPACT
Energy (‘MNRE’) as well as to the GST Council seeking specification of lower GST rate in respect of supply and installation of solar power plants.
Under the erstwhile system, the solar power generating
Despite rigorous representations, no relaxation has yet
systems were exempt from the whole of excise duty
been announced to alleviate the serious industry wide
and most state VAT laws provided merit rate of tax of
concerns including lack of clarity on GST rate structure
4 – 5 percent thereon. It is perhaps considering this
to be followed on contractor’s billings; blockage of
rate structure that renewable energy devices and parts
working capital due to high GST rate on procurements
thereof including solar power based devices, solar
etc. Continuity of these grey areas even after close to 6
power generating systems, solar lantern/solar lamp
months journey of GST, will only lead to dire situations
have been made subject to GST at the rate of 5 percent. In specifying a 5 percent GST rate, however, the policy makers seem to have missed several important aspects. Firstly, the concessional GST rates of 5 percent applies only on specified devices and equipment used in setting up a solar power plant such as solar photo voltic (‘PV’) modules and solar heaters and other solar power based devices such as solar cells, solar panels that contribute to only 55-60 percent of the overall project cost. Rest of the components such as module mounting structures, cables, inverter, battery, transformers etc are chargeable to higher GST at the rate of 12 / 18 / 28 percent. Similarly, unlike the erstwhile service tax rate of 15 percent or approx. 6 percent on services like erection, installation, operation and maintenance and works contract services respectively, the GST rate on all such
like halted execution of the projects and billing by contractors; and thereby significant lag in completion of strict time sensitive projects involving serious operational and financial implications. In view of above consequences, it is imperative that the MNRE as well as the GST Council urgently intervene into the matter to review the applicable GST rate structure for setting up a solar power projects and set right the anomalies highlighted herein.
POONAM HARJANI, Partner, Nitya Tax Associates. (With inputs from NEHA JAIN,
Associate, Nitya Tax Associates) Disclaimer: The views expressed herein are personal.
Solar Quarter • December 2017 22
Product Feature MECO “SOLAR MODULE ANALYZER (PHOTOVOLTAIC I-V CURVE TESTER) MODEL 9009” The
MECO
Solar
Module
Analyzer Model – 9009 is a portable
analyzer
used
testing,
maintenance
for and
finding efficiency of various
indentify locations with maximum or minimum power. The good spectral range, orientation and angular detection of meter allow users to conduct the most precise quantitative measurements of Solar Power Radiation.
FEATURES : ÂÂ Solar power measurement with Orientation and Tilt angle
parameters of solar panel and
ÂÂ Easy measurement for rate of daylight penetration
cell. Analyzer can be used
ÂÂ Auto change for measuring range
to design Solar System to generate specific power. It can
ÂÂ Auto power off with disable function
APPLICATIONS : ÂÂ Solar radiation measurements ÂÂ Solar power research for location of the solar panels or solar water heater ÂÂ Physics and optical laboratories ÂÂ Meteorology ÂÂ Agriculture
identify Solar Power System
ÂÂ Instantaneous display Ave/Min/Max values
requirement, best angle of Solar
ÂÂ 20 points memory
performance
ÂÂ Socket of tripod mounting
– calculation
Panel installation and Broken / Worn-Out cells. Solar Module Analyzer 9009 can scan solar cells/ panels upto 60V and 12A maximum. The portability of this device means that it is also useful in quality assurance at
ÂÂ Magnetic mount
ÂÂ Windows
and verification of the heating or heat reduction caused by direct sunlight.
ÂÂ Backlit LCD and 4 digits triple display
various stages on the production line and can be taken from one site to another. When used in the installation of solar panels, solar panel analyzer assists in determining the proper inverter size as well as optimum power output position of panels and helps to identify defective cells or panels that have worn out over time. The solar panel analyzer also provides the user with current and voltage (I-V) test curves, maximum solar power (Pmax) as well as current (Ishort, Imax) and voltage (Vnow, Vopen, Vmax). Solar cell/ panel efficiency (%) is also easily determined using the unit. Solar Module Analyzer is supplied with user friendly software for Data Storing and Analysis. Users can store data (.CSV/.TAB) that can be read in MS Excel and print Waveform / Graph via printer. Other features: Max. Solar Panel Power (Pmax) search by AutoScan : 60V, 12A, Best Resolution of 1mV-1mA, Memory Size 100 Records, Large LCD backlight, Communicate with PC via USB Cable, Manual AC Adaptor & Rechargeable Lithium Battery, I-V Curve with Cursor to Display each Data Point For details please visit : website www.mecoinst.com
MECO “SOLAR POWER METER MODEL 936” MECO Solar Power Meter is a portable meter used for measuring Solar Power or Solar Irradiance. It uses High sensitivity Silicon Photodiode
to
measure
solar
power. Solar Meter can also detect Solar Tilt Angle with Orientation. This instrument is designed to measure solar power in the range from 400 to 1100 nanometers. It Measures the solar power and transmission up to 2000 W/m2. Solar Power Meter has Max / Min / Avg and data hold functions to
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Solar Quarter • December 2017 23
Product Feature WE HAVE ENHANCED OUR ANNUAL RATED CAPACITY FROM 500 MW TO 1 GW IN 2017 ETHERLINE® ACCESS, THE MANAGED & UNMANAGED SWITCHES Robust switches for demanding industrial networks
or eight RJ45 ports, designated ETHERLINE® ACCESS M05T or M08T respectively. By contrast, the
ETHERLINE®
ACCESS
U05T and U08T switches are
Ethernet technology-based networks are active network
“unmanaged”. All four are fan-
components which play an important role in Industrial
and maintenance-free and have
Ethernet Systems, required by the smart factories of the
two redundant connections to
future. Understanding the increasing demand of Ethernet
ensure a reliable power supply.
Technology, Lapp launched its new line of switches for Ethernet networks under the name ETHERLINE® ACCESS. One important value is the reconfiguration time, which is the period until communication is restored following an interruption. In the case of the new switches from Lapp, this period is only 20 milliseconds with 250 active components in the network. Besides this, the switches are fully equipped
GENERAL FEATURES � Redundant power inputs – high availability � Robust metal housing and
Supported protocols: HTTP, Telnet, EtherNet/IP,
DIN rail mounting
Modbus/TCP, IPv6, and many more
with cutting-edge diagnostic and redundancy features.
� IP 30
Temperature range: 0 °C to 60 °C
Switches are a new line of business for Lapp, but this
� Fanless – maintenance free
Power Input: 24 VDC redundant dual inputs
represents an ideal fit for the market leader in integrated
ETHERLINE® ACCESS can be best applied at:
cable and connection systems. Only the combination of an industry-calibre switch and industrial brand-name cables
� Industry and building networks
Shock IEC 60068-2-27; Freefall IEC 60068-2-32; Vibration IEC 60068-2-6
ETHERLINE® ACCESS U05T/U08T (Unmanaged Switches)
such as ETHERLINE® from Lapp guarantees maximum
� Stage engineering and event technology
performance in terms of transmission quality and reliability.
Featured of ETHERLINE® ACCESS Managed & Unmanaged Switches:
Broadcast storm protection
� ETHERLINE® ACCESS M05T/M08T (Managed Switches)
Packet Buffer Size: 512 kbit
In addition, the customer does not need to purchase individual components from different suppliers. On the contrary, they can procure a complete communication solution from a single source for the highest demands in industrial applications.
Simple setup of redundant network topologies Reconfiguration time < 20 ms one of the lowest reconfiguration time of redundancy protocols
The Lapp switches are available in four variants:
RJ45 Ports: 10/100BaseT(X)
“managed”, i.e. with the option of configuration and five
Packet Buffer Size: 1 Mbit
RJ45 Ports: 10/100BaseT(X) Temperature range: -10 °C to 60 °C Power Input: 12/24/48 VDC, 18 to 30 VAC, redundant dual inputs Shock IEC 60068-2-27; Freefall IEC 60068-2-32; Vibration IEC 60068-2-6
SINENG ELECTRIC HAS COMPLETED THE ESTABLISHMENT OF ITS LOCAL SALES AND SERVICE SYSTEM FOR THE INDIAN MARKET INTRODUCTION Sineng Electric Co., Ltd. is a leading solar inverter manufacturer in the world. According to the IHS Markit 2017
Report,
Sineng
Electric is the world’s sixth largest solar inverter manufacturer. In 2014, following with
a
integration Fortune
500
company’s PV business, the
company
became
a leader in terms of R&D, management and
plant as central inverter but the combiner boxes have MPPT
2%~5% power
function, which is similar as string inverter. Each 1MWac
generation
has maximum 60 MPPTs, which can effectively solve power
increased（circumstances depend）;
generation losses because of dust covering, shade blocking, direct current line loss inconformity, module degradation, dip angle discrepancy and other module mismatch and result in power generation improvement. Because the voltage from the intelligent MPPT combiner to the inverter is promoted above DC 800 V, the AC voltage from inverter to the transformer is promoted to AC 520V, corresponding
� PV-array string fault monitoring � Wider MPPT range 300-820VDC, more power generation yield � Nature cooling for MPPT optimizer � High DC input and AC output voltage decreasing cable line loss
cost of AC/DC cable can be reduced about 30%.
� DC and AC side film capacitor life prediction function
b. Technology Specifications
� LCD power supply shut down technology( patent) � Fan speed regulation function ( VS load and inverter
Electrical Data
CP-2000-B-OD
Max. input voltage
1000V
MPPT voltage range
300~1000V
No. of MPPTs
40~60
d. Targeted/ Benefitted Customer Segment
Rated output power
2000kW
Max. output AC power
2200kVA
Compared with central inverter, central distributed inverter
Rated grid voltage
520V
Optional Grid voltage range
442~572V
Rated grid frequency
50Hz/60Hz
Adjustable displacement factor
0.8(lagging) ~ 0.8(leading)
and other module mismatch, DC voltage and MPPT
of its customers with the widest portfolios of solar inverters
Max. / European efficiency
99.1% / 98.70%
voltage range, which efficiently increase power generation.
ranging from single- and three-phase string inverters up
Standby consumption
<40W
Compared
marketing in the global CENTRAL DISTRIBUTED INVERTER
PV
market.
Sineng
Currently,
Electric
has
completed the establishment of its local sales and service system for the Indian market. Once the new modern facility goes into production in Bangalore, the company’s annual solar inverter production capacity is expected to reach 5GW. Sineng Electric is capable of meeting the diversified needs
to megawatt-sized central inverters and central distributed inverters. This extensive range of solar inverters is suitable for the smallest residential photovoltaic systems right up to multi-megawatt PV plants.
CENTRAL DISTRIBUTED INVERTER SOLUTION (TAKE 2MW AS AN EXAMPLE) a. Product Introduction
temp.) ( patent)
can effectively solve power generation losses because of dust covering, shade blocking, direct current line loss inconformity, module degradation, dip angle discrepancy
General Data Dimensions(W × H × D)
2991×2896×2438mm
Weight
5000kg
Operating temperature range
-30~60℃
Cooling concept
Temperature air-cooling
Degree of protection
IP54
Max. permissible relative humidity
value
for
central
inverter, distributed
inverter have lower controlled
system cost because of inverter cost and smaller cable section
0~95%, non -condensing
cross for higher DC
Max. altitude
6000m (derating> 3000m)
voltage
Communication port/protocols
Standard: RS485, Ethernet
800V); also the higher
Central distributed inverter integrates the features of
c. Technology Advancements
central and string inverter. It has the same layout of PV
� Multi-MPPT design, solve panel mismatch problem,
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with
string
(constant
DC voltage will lead to lower power loss of DC cable.
INTELLIGENT MPPT COMBINER BOX
Solar Quarter • December 2017 24
Product Feature WE HAVE ENHANCED OUR ANNUAL RATED CAPACITY FROM 500 MW TO 1 GW IN 2017 Vikram Solar was established in 2006 as a part of Vikram Group and has already become an international brand that is synonymous with quality and performance within just 11 years. The company has more than 700 MW (commissioned + under execution) EPC projects and more than 170 rooftop projects in its portfolio. We have enhanced our annual rated capacity from 500 MW to 1 GW in 2017. And produced 2 million modules till now. We SOMERA GRAND 1500V gave India its first floating solar plant. Commissioned airport installation in Calicut, Kolkata, Kochi. Invested more than INR 70 million in investment for R&D and certification of modules.
Rear Contact Technology (PERC) cells, drastically enhances the energy harvesting efficiency offering highest efficiency (up to 19.05% (for 60 cells) & up to 18.45% (for 72 cells). The new line of modules is also designed and tested to be very durable as to increase its longevity with performance capacity. And as a result, SOMERA can withstand 2400Pascal Wind load, 5400Pascal Snow load and Dynamic Wind load. SOMERA is designed in 72 cell and 60 cell module specification with the 72 cell models ranging from 340 to 365Wp capacity and 60 cell modules ranging from 280310Wp capacity.
TECHNOLOGY ADVANCEMENTS We have used Mono-crystalline cells instead of our staple polycrystalline cell usage. And equipped the SOMERA module line with technology to deliver better energy yield, consistent performance, and longevity than industry average modules.
Standard tests have revealed that ‘SOMERA’ line can offer 10% higher energy generation output than that of any industry average polycrystalline modules.
TARGETED CUSTOMER SEGMENT As the new monocrystalline modules are conditioned to withstand 2400Pascal Wind load, 5400Pascal Snow load and Dynamic Wind load, it makes them the best option for all geographical locations. Our SOMERA Grand Series (72 cell modules ranging from 340 to 365Wp) and SOMERA Prime Series (60 cell modules ranging from 280-310Wp) is for the Indian market. While SOMERA Grand Ultima Silver Series (72 cell modules ranging from 340 to 365Wp), SOMERA Ultima Silver Series and SOMERA Ultima All Black Series (60 cell modules ranging from 280-310Wp) is available in the international market.
We manufacture PV modules (Poly and Mono), offer EPC solutions (land mounted, rooftop, floating), and O&M services and we have presence in 5 continents, 32 countries.
PRODUCT INTRODUCTION As a major player in the green energy sector, we understood the need for quicker solar energy adoption within grids to phase our fossil fuel usage. To act our part in supporting and speeding up the solarisation process, we focused on innovation. We have collaborated with tech leaders like Teamtechnik, Finnwind, to constantly develop solar technology for improved energy yield. And our new product introduction to the market, ‘SOMERA’ Mono-Crystalline modules is a testament to our resolve and consistent effort in revolutionizing solar energy growth. SOMERA works with 1500V System voltage and features Passivated Emitter Rear Contact Technology (PERC) cells. As we have explained, the aim was to create and use new and better solar technology to increase the energy generation capacity of the modules. Therefore, we have used PERC cells that offer higher energy generation efficiency. Our new Mono-Crystalline module line ‘SOMERA’ has ascended our module capacity from 17% to 19%.
TECHNOLOGY SPECIFICATIONS SOMERA works with 1500V System voltage. It also has MC4 compatibility, extremely Low Light-Induced Degradation, and having Passivated Emitter
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Solar Quarter • December 2017 25
Company Feature WE ARE THE LEADING ROOFTOP PLAYER IN INDIA, ENABLING YOUR UNUSED ROOFS TO GENERATE GREEN POWER Vision Statement We aim to be the best in our field, driven by integrity and a desire for continuous improvement in every area-be it design, manufacturing, quality control or supply and services.
Mission Statement Strive for excellence through teamwork and partnership.
Ganges Internationale Pvt Ltd (GIPL) is an engineering company with interest in designing, manufacturing and erection of solar module mounting structures. As part our services, we provide complete solar turnkey solutions along with design & installations. GIPL has its world class manufacturing facility in Pondicherry with a production capacity of over 60,000 MT per year.
Manufacturing, Solar Mounting structure GIPL is India’s leading solar manufacturer of PV module mounting
structures,
Single-Axis
Tracking
systems
and cleaning solutions we provide high-quality solar components to power plants. We are a bankable structure manufacturer, known for our high quality, efficient and reliable mounting solutions worldwide.
We have executed various rooftop projects of numerous across
India.
Having
commissioned
many
complicated rooftop systems across the globe, we are the leading rooftop player in India, enabling your unused roofs to generate green power. Our design fits to all the major solar modules with complete layout of wind test
CUSTOMIZED AND
TO THE CUSTOMER REQUIREMENTS MAINTAINING THE QUALITY AT THE SAME TIME.
and load analysis. Components are made from galvanized part; our pre-assembled solar panel roof mounts offer
GIPL takes pride on being one of the supreme
easily configurable tilt angles to ensure your PV cells get
manufacturer and supplier of solar mounting structures,
maximum exposure to sunlight while maintaining stability.
Tracking solutions and module cleaning systems in India.
SOLUTIONS CAN BE
MADE ADAPTABLE
Rooftop Projects sizes
OUR DEVELOPED
leadership of a dedicated & experienced team equipped with advanced construction tools and techniques we deliver our projects on time. Which enable us in lowering
� 26 years of operations with 1500+ employees
Utility scale projects and industrial solutions
� Experience of delivering 2600+ MW installations
We provide reliable turnkey services to build large scale
engineered for maximum strength-to-weight ratio and
solar power plants for developers and big commercial
constructed of optimized material for maximum strength
organizations. GIPL ‘s Core competency of the company
and durability. Our experienced team will help design and
lies in its design that is continuously developed and
optimize your system for maximum return on investment.
engineered to deliver optimized mounting solutions
Our proposal to clients includes: Supply of material
with low weight profiles to withstand greater wind
Cooperation with local authorities on code compliance
speeds as high as 180 km/hr. Our developed solutions
Comprehensive technical support and materials On-site
can be customized and made adaptable to the customer
installation support for projects.
nationwide � Positive environment impact through reduced carbon footprint. � Solarizing a variety of industries, from manufacturing, telecom towers power transmission towers, fabrication structures and Food processing. � A process-driven organisation with ISO-9001:2008 certification.
Company History GIPL was Established in 1991 with a vision to bring commitment, trust and confidence in order to have an enviable client retention record.
grid integration over the plant’s life. GIPL structures are
requirements maintaining the quality at the same time.
Innovative products and strategy GIPL Solar manufactures and
OUR DESIGN FITS TO ALL THE MAJOR SOLAR MODULES WITH COMPLETE LAYOUT OF WIND TEST AND LOAD ANALYSIS. COMPONENTS ARE MADE FROM GALVANIZED PART; OUR PRE-ASSEMBLED SOLAR PANEL ROOF MOUNTS OFFER EASILY CONFIGURABLE TILT ANGLES TO ENSURE YOUR PV CELLS GET MAXIMUM EXPOSURE TO SUNLIGHT WHILE MAINTAINING STABILITY.
down the LCOE by providing stable and sustainable
distributes
mounting for
solar
structure
both
Indian
international
and
markets.
GIPL Solar has strategic alliances with some of the renowned companies in USA, for Flat roof mounting structure technology and Tracking
solutions.
mounting
solutions
Our are
scalable for large, medium and
small
Simple
applications. construction,
minimal parts, innovative design ideas and on-site flexibility for rapid and cost-effective installations are basic concepts taken into Our
consideration. ground
mounting
solutions are suitable for virtually all terrains and
WE OFFER DIFFERENT SERVICES SUCH AS: � Supply of Material (module mounting structures)
site conditions due to its flexible pile positioning and design adaptability.
� Civil and foundation work
Skilled team and advanced technology
� Erection of structures
GIPL Solar, in the last 26
� Design and Engineering of the solution
� Module Installations � Designing of electrical DC work for solar parks along with fencing, road and drainage services.
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years has revolutionized solar structure market by making it accessible and available to all – Under the
Solar Quarter • December 2017 26
Company Feature THE COMPANY HAS DEVELOPED A STRONG RESEARCH CULTURE AND IS AT THE FOREFRONT OF TRANSFORMING THE COUNTRY’S ENERGY LANDSCAPE The company was incorporated in 2010 under the leadership
ÂÂ Establish & enhance the brand image through multiple
of Dr. Gundu Sabde. In 2011 RelyOn launched its Innovative
channels, targeted with focused approach to each
solar solution for petrol station with leading market shares.
prospective segment
Soon From field experience RelyOn recognised the gap in the market for quality solar components that offer reliable and extensive after sales service across the country. This scenario induced the R&D team to design and develop robust products suitable for Indian environment that require the least maintenance. Development of Solar Water Pump began in 2011 and by 2013 we completed our first 10 MW utility scale plant.By 2015 we commissioned Firstof-a-kind 24hr solar EPC project and started out overseas operations in ,iddle east. By 2015 Sileaf a subsidiary of
Vision: To be the leading supplier of solar power in india,
ÂÂ Effective PR activities, branding at industry and crossindustry events for brand visibility ÂÂ Print, Technical & Electronic Media for Sales oriented campaigns
Middle East and South East Asia, with a target market share of 8%.
Mission Statement To reduce carbon footprint of our customers and enable energy independence by providing them with reliable and
ÂÂ Social media for brand visibility, sales and promotion
BUSINESS CONCEPT Services
along with RelyOn Solars Indigenously developed Single
Turnkey Solar Power solutions
cost-effective solar power.
its offering. Through R&D and Research RelyOn works
List Company’s Products & Services
RelyOn for electronics and water pumps was launched Axis Row Tracker . 2017 also saw a series of product
Vision Statement
continuously on new technologies and innovations to make solar more adaptable and useful and stay at the forefront of transforming the country’s energy landscape. We consider other solar as a business prospect for RelyOn
1. Utility Scale Plants
Solar rather than competition. We are in process of
first quarter of 2017, RelyOn became 5th largest Solar
2. Grid Tied/ Off Grid Solar Power Systems for
establishing ourselves as the backbone of solar Industry
Rooftop installer in India(Mercom Quarterly Report Q1)
3. Industry
launches including String Invertrs and RelyOn SCADA. By
and by Q4 we expect to reach among top 3 rooftop
where we would act as a support mechanism for the market as a whole and establish an ecosystem for energy
4. Commercial building
business in India that simplifies the complicated energy
1. Multiplex & Shopping malls
scenario that we have right now.
by WCRC in Solar Category.
2. Hospitals
Quality Policy of the Company:
A snapshot of the company’s business and serviced market sectors
3. Hotels
An ISO 9001:2015 company with strong focus on processes
4. Petrol Pumps 5. Residential
Service Pledge:
The company has developed a strong research culture and is at the forefront of transforming the country’s
6. Solar Parks
installer. The company has also received 2*3 time growth this year and was awarded “India’s Most Promosing Brand”
energy landscape to make it self-reliant and eco-friendly. From steering the industry through customised solutions
8. Solar Car Park
monitoring service, automated panel cleaning, developing
9. Island Solution
a. Organisation Structure: How the company functions & its reporting structure.
battery pack lithium ion integration for off grid systems, it
Products:
continues to be the driver of Innovation in solar industry.
ÂÂ Water pump systems
Our EPC services are also known for innovative customised
ÂÂ Li-ion battery system
customer centric solutions. Our installations are known for highest power generation per kWp basis and our
ÂÂ Off-Grid Inverter
consuming space. We made solar system work when there
ÂÂ String Inverter
was no net metering through reverse power control and
ÂÂ Power Management
have developer has resulted into 700+ application across country and we are one of the few companies two are we have over 2000 + installations across 16 states and we
ÂÂ Data Logger
generation consultancy, maintenance of power systems
1 MW BANGALORE
ÂÂ Single Axis Tracker ÂÂ SCADA
complete systems, component design, structure design,
RENEWABLE, SUSTAINABLE & AFFORDABLE partner to Go Solar!
Controller (SolGriD)
working on 24 hour solution with solar power. At present operate across utility- scale plants to rooftop installations,
With over Hundred projects across India, EES is your
ÂÂ DC Water Pump
leakage proof solar solutions creates space rather than
DG synchronisation. Our Petrol pump applications that we
ÂÂ Battery Management System
100 kW MUMBAI
and everything associated with Solar Power generation.
ÂÂ Lithium Ion Based
STRATEGY
ÂÂ Advance Battery Pack
Business Goals & Objectives:
ÂÂ Single Axis Row Trackers
ÂÂ To continue to integrate technology and products in
Business Competitiveness
order to be complete turnkey solution to our customers.
in
design,
engineering,
installation,
commissioning and maintenance of solar power systems, from KW to MW. ÂÂ Develop and commercialise unique solar power solutions customised for each application ÂÂ Enable
continuous
Inverter
ÂÂ Among top EPC solution
Business Strategy: ÂÂ Specialize
TEAM & MANAGEMENT
7. Leakage proof Solar Roof
(structure and design excellence), remote controlling and our in-house single axis tracker, SCADA and advanced
How the company will deliver highest quality of service NA
efficiency
improvement
and
reduction in Rs./watt through innovative solutions & vertical integration ÂÂ Leverage global sourcing for high quality, reliable and cost effective solar panels & other components
provider in India ÂÂ Among top 5 Rooftop solar installers(at end of Q4 expected to be among top 3 ) ÂÂ Continuous efforts, R&D and market surveys to understand the market requirements and stay competetive
in
the
Industry
ÂÂ Diversify and expand into emerging solar markets
We do face competition in
ÂÂ Expansion Across Indian Solar market through franchise
terms of our EPC business
and Dealership model
but RelyOn has many more services and products to
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36 kW MUMBAI
1 MW KARNATAKA | 600 kW MUMBAI | 450 kW MAHARASHTRA |200 kW KOLKATA| 45 kW MUMBAI
CONTACT US: : 022-27783636 : info@exceleng.com
RENEWABLE
SUSTAINABLE
AFFORDABLE
Solar Quarter • December 2017 27
Company Feature WE STRIVE TO PROVIDE OUR CUSTOMERS WITH PRODUCTS AND SERVICES WHICH MEET AND EXCEED THEIR EXPECTATIONS
Goldi Green commenced operations in 2011, with a small production facility. Initially inviting leading PV module manufacturers around the world for OEM manufacturing, we followed best practices in manufacturing and positioned our brand as a top quality provider in the PV module market. With the rapidly rising demand for our modules, we switched over to a fully automatic and robotic plant, and we
Products & Services Goldi Green manufactures solar PV modules with unmatched quality, using Poly & Mono crystalline solar cells. We manufacture PV modules in the range up to 365Wp, and have introduced our new series of modules: � 5BB cells along with PERC technology � Bi-facial modules
have now increased our capacity to 500MW consequently
� Twin-Peak modules
scaling up to 1GW very soon.
� 1500 System voltage modules
Goldi Green is promoted by the Dholakiya family, who are
� Split JB modules
also founders of the USD 1.2 billion diamond manufacturing conglomerate, SRK Exports.
A snapshot of the company’s business and serviced market sectors Goldi Green is a Solar PV module manufacturing and
� Glass to Glass modules � ACPV modules � Light Weight modules.
Quality Policy Of The Company:
EPC company. We manufacture PV modules using Poly
We are an ISO 9001:2015, ISO 14001:2015 & OHSAS
& Monocrystalline solar cells, up to the range of 365Wp,
18001:2007 certified company.
in a fully automatic, robotic and an ISO 9001:2015, ISO
We are the first Indian company to be audited by SolarBuyer
14001:2015 & OHSAS 18001:2007 certified facility.
U.S.A., a leading risk management and quality assurance
Having established ourselves as quality PV module
provider for solar products with 23GW of factories assessed
suppliers, we are also emerging as a fast growing EPC
for quality.
company delivering best performance with efficiency in record time.
Service Pledge: Our modules have undergone all quality tests at SGS-
BUSINESS GOALS & OBJECTIVES:
TUV-SAAR and Underwriters Laboratories (UL), along with being certified for PID resistance.
One of our key objectives is to become a major player
Besides being tested by third parties, our modules
in the development of solar parks.
undergo the most stringent in-house testing for all
We also aim to cater to complete end to end solutions related to Solar energy by introducing new products, storage devices etc. Besides we plan to continuously incorporate new technologies in our products & manufacturing processes which will help us to stay
Vision Statement Very soon we aim to increase our manufacturing capacities up to 1GW, which will help in catering to the immense demand for our PV modules. We also aim to expand our operations across the globe, especially increasing our presence in the European, African and American continent.
Mission Statement Goldi Green has witnessed the fastest pace of growth and can boast of a CAGR of above 80%. We have been exporting our modules to Europe and also exporting Solar pumps to Africa. Our primary goal being supporting the GOI in converting India into a solar energy hub by targeting users to adopt solar energy at the micro level, we have been very active in residential roof top installations, having completed more than 1MW of projects in Surat city itself, besides having accomplished almost 20MW of Commercial / Industrial installations in record time and having many other important projects in the pipeline. Being focused on delivering only the best quality, we also undertake OEM projects for many of the most reputed solar panel manufacturers across the world.
product reliability factors across various parameters. We have an Internal Quality circle team, which meets
Along with having a robust and automatic manufacturing
regularly to focus on continuous improvements in product
line based on Japanese & German technology, we follow
reliability.
best quality, environment and safety practices at our
Having adopted Lean Six Sigma & Kaizen at work place,
manufacturing process.
we also conduct regular in-house training of Lean Six
ahead of the technology curve and maintain our
All these efforts, backed by zero tolerance for any
Sigma for Quality & Production team and our quality
compromise on quality, help us maintain and deliver
goodwill amongst our clients.
management is certified in Lean Six Sigma Black Belt.
excellence in our products and manufacturing.
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Solar Quarter • December 2017 28
Company Feature WE FOLLOWED BEST PRACTICES IN MANUFACTURING AND POSITIONED OUR BRAND AS A TOP QUALITY PROVIDER IN THE PV MODULE MARKET Insolation Energy Pvt. Ltd, a company promoted & operated by Mr. Manish Gupta & Mr. Vikas Jain having
Awards & Recognition:-
experience of more than 18 years in various sectors like
In recognition for our quality standards, Insolation
Steel, Industrial Pipe Line Accessories, Real Estate, Health
Energy Pvt Ltd has been awarded with the following
& Fitness and Independent Solar Power Producer, having
awards
group turnover of more than Rs. 100 Cr. Insolation Energy Pvt Ltd has a state of the art fully automatic 60MW Manufacturing Unit. We offer both Multicrystalline & Monocrystalline in various sizes from 40 W to 350 W. At Insolation Energy Private Limited, world-class quality is a top priority. We strive to provide our customer with products and services which meet and exceed their
� India Solar Week Excellence Awards 2017 - “Solar
Manufacturer) for Outstanding Achievements in
We are committed to manufacture Solar PV
� Mission
Energy
Award
-
“Emerging
The quality system is followed in 4 sections in Insolation energy: � Incoming Quality Inspection (IQC) � In process Quality Inspection (IPQC) � Final Quality Inspection (FQA) � Machine Validation INCOMING QUALITY INSPECTION
Features � Positive Power Tolerance up to 3Wp to reduce current mismatch loss in single string for ensuring better ROI � 4 BB / 5 BB high efficiency cell with Improved Module Efficiency.
Excellence Award 2017.
� PID Testing IEC TS 62804-1 � MNRE Approved
Our Products
� More than 30 In-House testing for better Quality product.
Certifications � ISO 9001 : 2015 & ISO 14001 : 2015
CUSTOMERS & PROJECTS Our clients include reputed:� Developers
of clean, environmental friendly, cost effective and easily available energy to each and every citizen of the country. Our aim is to provide
one and all. We provide flexible & customized high-tech PV solutions and reliable support to fit your specific needs.
Some of our most popular Modules this year include: 1. Sapphire
Series
72 Poly Crystalline 2. Sapphire
Series
60 Poly Crystalline 3. Sapphire
Series
36 Poly Crystalline 4. Ruby Series 72 Mono Crystalline
have wide range
� Compact Design ,efficient shipping ,easy handling
Mission Statement
We develop India’s best Solar PV Module.
� PID Resistant
� Unique Frame design with high mechanical strength
Campaign
clean and green electricity at affordable price to
� IEC : 61701
Our modules
� Highest Area efficiency in its Class
and prudent practices under “Make in India”
We at Insolation Energy aim to achieve the goal
� 100% EL tested Pre & post Lamination ,Higher reliability
� Excellent energy generation in weak light
Module
Manufacturer of the Year” in Solar Innovation &
� IEC 61730-Ed.1 and IEC 61730-Ed.2
Quality Control Systems
Modules with high quality, long lasting, reliable
Solar Energy Sector from First View.
highest quality standards and to ship products that meet
our processes.
leveraging on the goodwill and experience of the group and management expertise.
� IEC 61215:2015 -2nd Edition
Management System Through continuous improvement of
effective solutions across areas of operations in
Module Company of the Year Utility Scale (Domestic
We shall use preventive processes and testing to drive the
We shall strive to enhance effectiveness of Quality
Our Vision is to provide high quality and cost-
emerging as well as developed markets while
expectations.
our stated quality goals.
Vision Statement
applications:� On-grid large Scale utility systems � On-grid rooftop residential and commercial system � Net metering solutions � Off-grid residential systems � Solar pumping applications
� EPC Players
� Solar street light
� Consumers/Retail
� Solar home lighting
� Manufacturers
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system(HLS)
Solar Quarter • December 2017 29
A SS-2018
Join one of the Most Prominent Solar Events in India
All India Solar Summit
http://www.aiss.org.in
23 to 25 Feb 2018, IIA Bhawan Grounds, Gomti Nagar, Lucknow, U.P. (India) rd
th
Welcome to AISS (All India Solar Summit)
I
ndian Industries Association (IIA) & UPNEDA welcomes you to the world of endless opportunities in one of the world’s biggest solar market. Indian Market is so diverse, so wide and so multifarious that it will not only challenge your ultimate marketing skills, but also make you hone your company strategic tools. There is a market which is seething with an insatiable appetite for power, so what are you waiting for!!! Come and explore this wonderful opportunity, Welcome to AISS- All India Solar Summit 2018. Who should embellish a stall at AISS ? Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ
Supported by
Solar System Integrators Ÿ Solar Cell Manufacturers Ÿ Solar Module Manufacturers Ÿ Module Manufacturing Line Suppliers Ÿ Solar Farm Developers Ÿ Solar water Heaters Manufacturers Ÿ Solar Street Lights & Home Systems Manufacturers Ÿ Battery Manufacturers Ÿ Inverter Manufacturers Ÿ Solar BOS(Balance of System) Manufacturers Ÿ EPC Companies Ÿ Solar PV/Thermal Installers and Contractors Ÿ Suppliers of Raw Materials Ÿ Solar Turn Key Solution Providers Ÿ
20-21 April 2018
�ou�� �n�ia�s �os� �n�uen�ial Renewable Energy Forum is back!
Solar Enthusiasts you will meet Builders & Solar Farm Developers Construction Professionals Projects Heads Investors Trade Buyers and Business Buyers Industrial Purchasing Managers Engineers and Installers Green Consultants and Experts Local Agents and Distributors Local & National Government Institutions Domestic and International Associations Energy Storage Systems Industry Executives Transmission & Distribution System Operators Policy Decision Makers Media and Publishers Architects Commercial & Domestic End-Users
3 Days Full of Business Opportunities !
Highlights
Country Pavilions China & Taiwan
BOOKING OPENS
CONTACT Organizer
Co-Organizer
Amitava Sarkar M : +91 93792 29397 E : Amitava.sarkar@ubm.com
Julian Thomas Iyer Narayanan M : +91 99404 59444 M : + 91 99673 53437 E : julian.thomas@ubm.com E : iyer.narayanan@ubm.com www.renewx.in
UPNEDA
Indian Industries Association
Special concessions for MSME’s and SC/ST Exhibitors available as per Government Schemes. For Stall Bookings/Visiters Registrations visit www.aiss.org.in or Contact IIA H.O. at 8601855543, 8601855546 or via Email at: contact@aiss.org.in; mkb@iiaonline.in
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P. C. Pant
Anil Srivastava
Director, Hydrogen Fuel Electric Vehicles & NBEM Energy Storage, MNRE
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NEC Energy Solutions, Inc.
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